Morgan Stanley beats profit estimates on dealmaking boost, strong trading

Morgan Stanley beat profit estimates for Q2, posting EPS of 3.46 dollars versus expectations of 2.94 dollars, on the back of a surge in dealmaking and trading. Investment banking revenue jumped to 2.44 billion dollars from 1.54 dollars a year ago, while equities trading revenue surged over 69 percent to 6.3 billion dollars. Wealth management revenue hit a record 8.9 billion dollars, with total client assets across wealth and investment management crossing 10 trillion dollars.